Mumbai, March 29 -- The transaction has resulted in a debt reduction of Rs 120 crore at the subsidiary level. Additionally, the company plans to use Rs 108 crore from the sale proceeds to fully repay its remaining debt, making Cineline India a net debt-free entity. The surplus funds will be directed toward the expansion of MovieMax, the company's fast-growing cinema chain.

Since relaunching MovieMax in 2022, Cineline India has expanded to 77 operational screens, with another 82 screens in the pipeline. Over the past two years, the company has successfully monetized non-core real estate assets worth Rs 351 crore, including the sale of Hyatt Centric Goa for Rs 270 crore, Eternity Mall in Nagpur for Rs 60 crore, and two commercial propertie...